Cardinal Infrastructure Group (NASDAQ:CDNL) Hits New 12-Month Low – What’s Next?

Cardinal Infrastructure Group Inc. (NASDAQ:CDNL)’s share price reached a new 52-week low during trading on Thursday. The stock traded as low as $13.89 and last traded at $14.2110, with a volume of 41,599 shares. The stock had previously closed at $14.64.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on CDNL. Oppenheimer lowered their price target on shares of Cardinal Infrastructure Group from $80.00 to $70.00 and set an “outperform” rating on the stock in a report on Wednesday, August 12th. Truist Financial lowered their price target on shares of Cardinal Infrastructure Group from $40.00 to $30.00 and set a “buy” rating on the stock in a report on Monday. Zacks Research cut shares of Cardinal Infrastructure Group from a “hold” rating to a “strong sell” rating in a report on Thursday, October 15th. Weiss Ratings cut shares of Cardinal Infrastructure Group from a “hold (c)” rating to a “hold (c-)” rating in a report on Thursday, October 8th. Finally, Stifel Nicolaus cut their price objective on shares of Cardinal Infrastructure Group from $63.00 to $52.00 and set a “buy” rating for the company in a report on Wednesday, August 12th. Four equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $46.75.

Cardinal Infrastructure Group Price Performance

The business’s fifty day simple moving average is $31.36 and its 200-day simple moving average is $50.51. The company has a current ratio of 3.59, a quick ratio of 3.59 and a debt-to-equity ratio of 0.32. The firm has a market cap of $654.14 million and a P/E ratio of 25.09.

Cardinal Infrastructure Group (NASDAQ:CDNL) last issued its earnings results on Tuesday, August 11th. The company reported $0.26 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.22). The business had revenue of $226.93 million for the quarter. As a group, analysts forecast that Cardinal Infrastructure Group Inc. will post 1.76 EPS for the current fiscal year.

Insider Transactions at Cardinal Infrastructure Group

In other news, Director Ivy Zelman purchased 12,647 shares of the firm’s stock in a transaction dated Friday, August 14th. The shares were purchased at an average price of $39.61 per share, with a total value of $500,947.67. Following the completion of the acquisition, the director owned 32,891 shares in the company, valued at $1,302,812.51. This trade represents a 62.47% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Jeremy Spivey purchased 83,350 shares of the firm’s stock in a transaction dated Friday, August 14th. The stock was purchased at an average cost of $38.41 per share, for a total transaction of $3,201,473.50. Following the acquisition, the chief executive officer owned 83,350 shares of the company’s stock, valued at approximately $3,201,473.50. This trade represents a ∞ increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. In the last quarter, insiders have purchased 214,597 shares of company stock valued at $8,285,516. Corporate insiders own 61.70% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. Kings Path Partners LLC bought a new position in shares of Cardinal Infrastructure Group in the third quarter worth $319,000. Round Rock Advisors LLC increased its holdings in shares of Cardinal Infrastructure Group by 18.7% in the second quarter. Round Rock Advisors LLC now owns 22,438 shares of the company’s stock worth $2,114,000 after purchasing an additional 3,541 shares during the period. Wellington Management Group LLP bought a new position in shares of Cardinal Infrastructure Group in the second quarter worth $14,687,000. Ranger Investment Management L.P. bought a new position in shares of Cardinal Infrastructure Group in the second quarter worth $11,768,000. Finally, Bank of America Corp DE increased its holdings in shares of Cardinal Infrastructure Group by 139.4% in the first quarter. Bank of America Corp DE now owns 125,804 shares of the company’s stock worth $4,989,000 after purchasing an additional 73,259 shares during the period.

About Cardinal Infrastructure Group

Cardinal Infrastructure Group is a vertically integrated civil infrastructure and site development platform serving residential, commercial, industrial and municipal projects.

CDNL delivers its suite of comprehensive infrastructure services that support the planning, preparation, installation, and development of residential, commercial, industrial, municipal, and state infrastructure projects through wholly owned, market leading subsidiaries. Cardinal’s operations leverage in-house, highly skilled teams and equipment fleets to deliver wet utility installations (water, sewer, and stormwater systems), as well as grading, site clearing, erosion control, drilling and blasting, paving, and other related site services.